XRP is experiencing a resurgence in positive social media discussions, a trend that has often been a contrarian indicator for price movements. The token's sentiment ratio on social media spiked into the FOMO zone on April 29, reaching 3.9, its highest level since March 19. This spike in sentiment is largely attributed to the recent integration of XRP with Rakuten Pay, allowing users to convert their points into XRP.
Historically, when sentiment reaches such extremes, the token tends to consolidate or correct in the following days as demand from buyers begins to wane. The Rakuten Pay integration, which went live in early April, has added XRP as a payment method across its ecosystem, potentially exposing the token to 44 million users. Despite the excitement surrounding this development, XRP's price has not reflected the same level of enthusiasm, trading at $1.37 on Thursday with a 2.1% decline over 24 hours.